RE100 is the global, collaborative initiative of the world’s most influential companies committed to 100% renewable power, led by The Climate Group in partnership with CDP.

The report highlights the speed of the corporate transition to cleaner energy. Many RE100 members have set an end goal for achieving 100% renewable electricity before 2024, and 11 members already achieved 100% renewable electricity prior to 2015 – sending a clear market signal to governments and investors around the world that growing demand for renewable energy must be met sooner rather than later.

Based on the latest available electricity consumption data (2015) from RE100 members, other findings in today’s report show:

Member companies (87 and growing) are now creating demand for approximately 107 TWh of renewable power annually; around the same amount of electricity as consumed by The Netherlands;

Members making fastest progress towards their 100% renewable electricity targets include Goldman Sachs, which jumped from 14% renewable electricity in 2014 to 86% in 2015; Elopak, which went from 18% to 86% renewable during the same year; and H&M, which went from 27% to 78%;

Around halfof the electricity being consumed by members reporting electricity use in the US is from renewables, accounting for the highest amount of renewable electricity being sourced in any country worldwide (6.8 TWh in 2015, with unbundled renewable energy attribute certificate purchases (RECs) being the most popular approach that year);

Almost allof electricity usage reported by members in Europe is from renewables (14.4 TWh in 2015, with an even split between unbundled renewable energy attribute certificate purchases and green tariffs as the most popular approaches that year);

Nearly a quarterof the electricity usage reported by members in China is from renewables (0.4 TWh in 2015, with unbundled renewable energy attribute certificate purchases being the most popular approach that year);

Around a tenthof RE100 electricity use being reported in India is from renewables (0.1 TWh in 2015, with Power Purchasing Agreements (PPAs) being the most popular approach that year, followed by on-site generation);

Of the 34 RE100 members reporting the use of self-generation on-site at their facilities, wind and solar PV were by far the most popular technologies.

The report also shows that, within the membership, Telecommunication Services is the closest sector to reaching 100% renewable electricity (97% in 2015).

Damian Ryan, Acting CEO, The Climate Group said: “It is really encouraging to see that more companies than ever are committing to bold climate action, helping us move towards a net zero-emissions economy. But we need to see faster progress. In order to deliver on the Paris Agreement and keep global warming well below two degrees, we need governments to remove policy barriers and create investment incentives that can provide easier access to renewable energy. And we need more business leaders to influence the usage of renewable power right along their supply chains.”

Gatwick Airport Limited in the UK took a similar approach to become 100% renewable in 2013, and now has a further target to increase its share of direct purchasing by 2020.

Leading Dutch health technology company Royal Philips has a goal of reaching 100% renewable electricity by 2020. Philips is currently working with four other international companies to sign long-term PPAs in the countries in which they all operate.

RE100 members recognize the value of transitioning to renewable electricity; from greater control over energy costs and financial savings, to delivery on sustainability goals and enhanced reputations.

General Motors has reported savings of US$5 million annually from using renewable energy, with this figure likely to increase significantly with prospective projects coming online and the supply of renewable energy increasing.